During the quarter, Citigroup generated net income of $1.2 billion, up 25% from $956 million during the same period in 2011. Adjusted EPS came in at 69 cents a share. That disappointed analysts who had anticipated earnings of 96 cents a share, Reuters noted.

Citigroup’s results were dented by $1.2 billion in charges relating to litigation and $1.03 billion in charges resulting from layoffs.